Affirm launches new app, browser extension
A payment network is adding a mobile app and a Chrome browser extension to its suite of ‘buy now, pay later’ (BNPL) solutions for consumers.
Affirm is rolling out the Affirm Super App and a new Chrome browser extension. In the new app, consumers can see their Affirm snapshot, including how much they might be able to spend, how much cashback they have earned, how much they have saved, and their outstanding payments.
The revamped app also enables consumers to shop exclusive offers, which are tailored based on their shopping preferences in the app. Consumers can shop online or in-store by creating a single-use Affirm virtual card, and then entering that card number at online checkout as they would with a regular debit or credit card, or through their mobile wallet in-store.
In addition, the app lets users earn cashback rewards by paying upfront at participating retailers, with the opportunity to increase spending limits with positive repayment behavior. App users can also manage their Affirm payments Savings, including turning on an AutoPay feature, making payments early, or checking how much they have earned in savings
During the app’s beta period, Affirm says it saw increased consumer engagement and repeat use. Consumers can update their Affirm App or download it from the App Store or Google Play store.
Chrome browser extension
Affirm’s new Google Chrome browser extension allows consumers to use its payment solutions at virtually any retailer’s website, even if Affirm isn’t listed as being available at checkout.
To start using the Chrome extension, consumers can download it from the Chrome web store, click the puzzle icon on their browser, then click the thumbtack to pin the Affirm browser extension. Customers then log in to their existing Affirm account with their phone number, or sign up by entering a few pieces of information, including name, email address and birth date.
After account setup/login, customers can shop stores online to see how much they're prequalified to spend, as well as request a virtual card through the extension, select an Affirm payment plan, and complete their purchase as they normally would using the Affirm BNPL solution.
During the beta period, Affirm says it found that among existing Affirm users, those using the Affirm Chrome extension were over 30% more likely to pay for a purchase using its solution.
Global payments provider and shopping platform Klarna released a browser extension in December 2021. The extension enables consumers to shop with Klarna's flexible buy now, pay later payment options on their desktop at every online store, even if the retailer is not yet a Klarna partner. The extension was released on the heels of an all-in-one mobile shopping app with similar universal online flex payment capabilities.
“We know that consumers want a one-stop shop to manage their finances. Affirm saw this firsthand when we added Savings to our app, which has since attracted more than $300 million in total deposits while driving meaningful engagement,” said Max Levchin, founder and CEO of Affirm. “By evolving the Affirm app into a super app, we have launched the ultimate destination for consumers to shop their favorite brands and smartly manage their finances, while also delivering a seamless, rewarding, and increasingly personalized experience.”